Lithium Americas (NYSE:LAC) Trading 3.7% Higher on Analyst Upgrade

Lithium Americas Corp. (NYSE:LAC) shares traded up 3.7% on Wednesday after B. Riley raised their price target on the stock from $4.50 to $5.00. B. Riley currently has a buy rating on the stock. Lithium Americas traded as high as $4.43 and last traded at $4.24. 5,563,292 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 5,353,698 shares. The stock had previously closed at $4.09.

A number of other equities analysts also recently weighed in on LAC. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Piper Sandler assumed coverage on shares of Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target on the stock. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank cut their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Lithium Americas currently has an average rating of “Hold” and an average target price of $5.63.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC raised its holdings in Lithium Americas by 3.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 278,622 shares of the company’s stock valued at $752,000 after buying an additional 10,000 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Lithium Americas by 39.5% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after buying an additional 3,693 shares during the last quarter. Hedges Asset Management LLC raised its holdings in Lithium Americas by 100.0% in the 3rd quarter. Hedges Asset Management LLC now owns 50,000 shares of the company’s stock valued at $135,000 after buying an additional 25,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Lithium Americas by 41.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock valued at $1,008,000 after buying an additional 108,993 shares during the last quarter. Finally, PFG Investments LLC bought a new position in Lithium Americas in the 3rd quarter valued at approximately $90,000.

Lithium Americas Stock Performance

The business’s fifty day moving average is $3.03 and its 200-day moving average is $3.07. The firm has a market cap of $935.64 million and a P/E ratio of -35.33.

Lithium Americas (NYSE:LAC) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Analysts predict that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.